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WHY PENSION FUNDS ARE UNSUSTAINABLE IN THE WORLD TODAY & EXPLODING AS THE BABY BOOMERS START

The world recession has done nothing to stop the population of the world exploding & PENSIONS IN THE WORLD ARE SUCKING UP GDP'S as countries can no longer sustain old age pensions. Its a fact and we must admit it. Asset testing is a start but in NZ this is not an issue as its votes that count & now the numbers over age 65 [ NZ pension age] number 30% of voters???

   

 

To be eligible for NZ Super you need to be aged 65 or over and a legal resident of New Zealand, having lived here for ten years since age 20. Five of those years have to be since you turned age 50.

On 1 April 1992, the qualifying age was 60 years to 61 years. Then increased fixed at 65 years from 1 April 2001. To meet residency requirements for New Zealand Superannuation, the client must have lived in New Zealand for 10 years since they were aged 20 years, of which five years must have been since they were aged 50 years. People who have reached the qualifying age for New Zealand Superannuation but who don't meet these residency requirements may be eligible to an Emergency Benefit if hardship exists.New Zealand Superannuation payments are made gross of tax. Recipients pay tax on this pension at the rate appropriate to their financial circumstances.

WHAT YOU GET LIVING IN THAILAND FOR INSTANCE

Your payment will be based on the number of months you’ve resided in New Zealand between the ages of 20 and 65:

Full Rate: Must live in NZ for 540 months (45 years( between the ages of 20 and 65)

1/540 of basic rate each month : Lived in NZ for 120 - 540 months (10-45 years) between the ages of 20 and 65

120/540th of the basic rate : Mived in NZ for 120 months (10 years) between the ages of 20 and 65 

Read more on receiving [ Pensions overseas ]

 

Greece: The normal pension age is 65 for both men and women. A pension from this age requires a minimum of 4 500 days of contributions (equivalent to 15 years). Workers with a contribution record of 11 100 working days (37 years) can retire on a full benefit regardless of age. There are concessions for people who work in arduous or unhygienic occupations and for women with dependant or disabled children. The minimum social pension requires 15 years’ contributions.

Australia: From 1 July 2017, the qualifying age for Age Pension will increase from 65 to 65.5 years. The qualifying age for Age Pension will then rise by 6 months every 2 years, reaching 67 by 1 July 2023.These changes will be introduced 4 years after women's qualifying age for Age Pension has reached 65, under existing rules.

UK: Anyone who was under the age of 57 on 6 April 2010 will now have to wait until they are 66 before they get their pension. Govt wants to increase the age to 70.

Sweden: If you have worked in Sweden and earned a taxable work income, you will be entitled to Swedish old age pension, at the earliest from the age of 61 years.

 

Check the following chart of pensions around the world

New Zealand Age 65
Greece Age 65
Australia Age 65
USA Age 60
UK Age 66
South Africa Age 60
Sweden Age 65
Russia Age 60 men 55 women
Italy Age 65 men 60 women
Finland Age 63?
Portugal Age 65
France Age 62
Germany Age 67

 

The NZ Labour Govt under Goff----proposes to raise the age of eligibility for superannuation from 65 to 67 by 2033. It will also make KiwiSaver compulsory for working New Zealanders.

Population explosion is increasing to bursting point and pensions are sucking exconomies

to breaking poit !!!!! How to stop this.

 

Are we heading back to recession with $$$ dropping & foreign currencies starting to fall [ World Recession looms ] [ China & Wikileaks move into Africa ] [ China Vs USA finance situation 2010 ] WHY ARE MANUFACTURERS & BUSINESSES LEAVING NZ: [ Read the story ] -[ Compare to Thailand ] & why more factories are heading abroad now. It makes sense.[ Check WHY THAILAND ] is better for Manufacturers & any Kiwi Company. Why NZ is lost [ NZ Deficit increases ] Yes we owe money????? [ Government $250m a week borrowing ] [ Transmission Gully Impact costs ] [ NZders lose out ]

"You believe me now that the world population needs to be addressed.

Don't tell anyone as most think its untrue & don't give a meow "

 
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